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Bio-Techne Q3 Profit Down - Quick Facts

Bio-Techne Corp. (TECH) reported that its third-quarter net earnings declined to $36.43 million from $44.65 million last year. GAAP earnings per share decreased to $0.92 per share, from $1.15 in the same quarter last year.

Adjusted earnings per share increased to $1.39 per share, versus $1.21 in the same quarter last year, an increase of 15%. Adjusted EPS increased primarily due to revenue growth in the quarter.

Net sales for the third quarter increased 5% to $194.7 million. Organic growth was 6% compared to the prior year, with foreign currency exchange having an unfavorable impact of 1% and acquisitions having an immaterial impact on revenue.

Analysts polled by Thomson Reuters expected the company to report earnings of $1.15 per share and revenues of $185.43 million. Analysts' estimates typically exclude special items.

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